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FXPrimus: Launch of New Currency Pairs
FXPrimus is pleased to announce the addition of the following FX pairs – EUR/HUF, USD/HUF and USD/PLN.
By offering these new currencies pairs, FXPRIMUS demonstrates its unstoppable efforts to provide clients with the opportunity to diversify and to strengthen their portfolio, whilst experiencing an unmatched trading environment.
FXPRIMUS announces the launch of new currency pairs EUR/HUF, USD/HUF and USD/PLN
Here is some more information about our new currency pairs.
About the HUF
The Hungarian Forint (HUF) was first allowed to freely float in February 2008 when the National Bank of Hungary decided to abandon the managed trading band to focus on meeting their short term inflation target of 3%. Since then it has traded freely against all major currencies.
EUR/HUF hit a low of 228.00 in 2008 and has steadily rallied to a high of 327.50 in January of this year. Similarly USD/HUF hit a low of 143.35 also in 2008 and made a new high of 292.50 earlier this year. Long term expectations are still for the HUF to weaken as many Hungarian households had financed their mortgages in CHF (Swiss Francs) and were hurt by the rapid appreciation of the CHF earlier this year, when the SNB (Swiss National Bank) abandoned the EUR/CHF floor at 1.2000.
About the PLN
The Polish Zloty (PLN) was officially allowed to freely float in April 2000. Under the Treaty of Accession within the European Union, Poland is obliged to replace the Zloty with the EURO at some stage, although there is no set date for this to happen. The Polish government has stated that this will not happen before 2020, so there are plenty more trading days for the Zloty ahead! The high for USD/PLN was 4.7420 back in 2000 and the low was 2.0190 in 2008.
Read more @ http://www.fxprimus.com/en/news/1325-fxprimus